The Ministry of Revenues and the Commercial Bank of Ethiopia have signed a bilateral agreement on the provision of services for the collection and administration of income tax.

The agreement was signed by the Minister of Revenues, Ms. Aynalem Nigusse, and the Acting President of the Commercial Bank of Ethiopia, Mr. Ephrem Mekuria.

At the signing ceremony, Minister Aynalem Nigusse said the Ministry of Revenues is working with stakeholders to modernize the tax system. She noted that both the Ministry of Revenues and the Commercial Bank of Ethiopia have been implementing reform measures, and stated that the agreement will further strengthen the institutions’ existing cooperation.

The Minister said the agreement will enable taxpayers to pay their taxes electronically without the need to visit tax offices in person. She noted that this is expected to save time and costs for taxpayers and improve the efficiency and quality of tax payment services.

She also stated that the agreement will support the establishment of a system that allows for easier information exchange between the two institutions through the continued use of technology and by linking their respective activities.

Speaking at the ceremony, Acting President of the Commercial Bank of Ethiopia, Mr. Ephrem Mekuria, said the agreement is designed to establish a secure and simple electronic payment system for the collection of taxes.

Officials from both institutions said they expect the agreement to support the electronic collection of income tax and strengthen cooperation between the Ministry of Revenues and the Commercial Bank of Ethiopia.

Source (including image): The Ministry of Revenues